In a landmark move to modernize Ethiopia’s public finance landscape, the Ministry of Finance has published its inaugural Treasury-bill issuance calendar, marking a significant shift toward market-driven domestic debt management.
The calendar, covering the first quarter of the 2025/26 fiscal year, provides a detailed schedule of T-bill auctions through September 2025. This strategic initiative aligns with the government’s broader “reset, reform, and relaunch” economic agenda, aiming to deepen the domestic debt market, enhance transparency, and foster investor confidence.
According to the released schedule, a total of over ETB 117 billion will be issued through five auction dates: July 23, August 6, August 20, September 3, and September 17. The maturities range from 28 days to 364 days, with the largest issuance planned for August 6, totaling over ETB 38.6 billion.
“This calendar represents a critical step in the evolution of Ethiopia’s debt management practices,” the Ministry said in a statement. “It introduces predictability and signals the government's commitment to borrow domestically in a manner that mitigates inflationary pressures and supports macroeconomic stability.”
The initiative complements recent financial reforms, including the opening of a secondary market and the introduction of more competitive retail auctions via the newly established Ethiopian Securities Exchange. These reforms are intended to broaden investor participation and anchor Ethiopia’s debt issuance strategy in international best practices.
By enhancing visibility into the government’s borrowing plans, the issuance calendar is expected to catalyze further development of the country’s capital markets, paving the way for a more resilient and transparent financial system.